The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1887-04-28
BIRMlNGHAM'S BOOM
Proves Boomerang and the People feel
Sick.
Athens (Ga.) Banner INatchman.


advised the people to fight shy of Bir.
mingham and its 30 called boom. We
admit We we're not alone in giving this
advice. The safe and prudent editor
everywhere cautioned his readers that
the inflated values that ruled in Ala
bama's magic city could not last; that
the crash was as certain to come as the
night comes after the day. The history
of such booms has invariably been the
same. Enormous prices, unusual activi-
ty, imitation everywhere, is generally fol-
lowed by rapid and startling decline in
values, business stagnation, and CONNER
cial ruin. This has been SO often the
story in Wall street and in other great
trade centers that it would seem that
prudent and thinking men would know
that such ventures we're not in keeping
with business sagacity. That Birming-
ham was the place for speculators to go
has been proved by the enormous for.
tunes that have been made in real estate
transactions there. That it was not the
scene for the operations of the moneyed
man who sought permanent investments
is shown by the rapid decline in all
values, and the great difficulty now being
experienced in getting living return
from investments, and the almost impos.
sibility of obtaining value received, for
the lots few weeks ago could have been
sold ten times during the day.
The Bonner. Watchman was talking
few days ago with gentleman who has
made a large fortune in Birmingham
speculations, and who was wise in his
day and generation by getting out before
the crash came. He was speculator by
profession, and when interviewed by q
representative Of this journal y as on his
way to New York to double or lose all in
Wall street operations. This gentleman
told our reporter "that property in Bir.
miDgham had declined within The past
two months at least twenty-five per cent.
The people there realize that the boom
has collapsed, and they try to keep up
appearances and prevent the truth from
being known by refusing to offer their
holdings for sale. This is, however,
cheating nobody but themselves. This
almost pitiable effort to- bolster up their
own courage and inspire confidence is
easily seen through, and were they to-day
to offer property that a few weeks ago
was bringing enormous prices, l doubt
very much if they could realize half what
it cost them. But they will not lose
much," the gentleman went on to say,
"for property in Birmingham has nearly
all been sold on the option plan. When
the crash comes, as it must before long,
the result will be that the original owner
will resume the proprietorship and the
other fellows will have lost their margins
in the capacious pockets of the specula-
tors and real estate agents.
"There has not been within the past
eighteen months anything like e fair sale
of property in Birmingham. When I
say fair sale, mean sale where the
price and the value were equal. Every.
thing has been forced--speculation has
been rife, and the better judgment of
men has been lost in the mad race after
gain. I do not suppose that hardly any
one bought property in Birmingham as
an Investment. No one really believed
that lots we're worth the enormous price
ess3 ssssaiNsA. The isdasa. ~as thas $50
could buy and sell again at big profit.
No one ever Thought fora moment that
he would be the last holder. But some.
body had to be, and perhaps those who
had the least idea of becoming so got
caught at last"
When asked about the future of Bir.
mingham, the gentleman replied as fol.
lows: "It will never be as large as At.
lanta now is, and never can attain to the
size that city will eventually become
Birmingham win always be manufac.
turing center. So has Pittsburg been.
but it has never caught up with Phila.
delphia. Birmingham and Atlanta will
act the same old play over again. Nc
matter how fast Birmingham will grow.
Atlanta will increase great deal faster
regard and have always regarded At
lanta as the coming Southern city. II
will rival in ten years New Orleans, and
will eventually be the largest Southern
city. The only possible rival with At.
lanta will be Chattanooga, and notwith.
standing the superior advantages of that
mountain city in very many respects, ]
am confident that Atlanta will ever
continue to lead. Atlanta is attracting
to it men who, when they drive down
their stakes there, plant them to stay.
Permanent citizens are better than float.
ing spectators, and of such cosmopoli.
tan material is the population of Bir.
mingham almost entirely made up. II
Birmingham man within the next ten
years gets big rich, ten to one he goes to
Atlanta to spend his money and enjoy
the luxuries his wealth can obtain"
Such was the latest news from Biz.
mingham, and it must be noticed that in
tone and tenor it differs greatly from the
rosy and golden accounts that came from
that city not long ago.
Puzzle 1t Out, If You Can.
"I have been very much bothered late